Cost of living in Melbourne 2026: a practical budget

How much does it cost to live in Melbourne in 2026? Rent will usually be your biggest expense. The three planning examples below total AUD 2,138 per month for a tighter shared-house budget, AUD 2,957 with more flexibility and AUD 4,057 for living alone. These are editable examples, not guaranteed prices, minimum requirements or a statistical average.

Amounts are per person in Australian dollars. Tuition, enrolment fees, study materials, OSHC health insurance, visa charges and flights are additional. Start with your actual campus and course when using our Melbourne study guide.

Three examples of a monthly Melbourne budget

Choose an actual room first, then add your other expenses. Convert advertised weekly rent to an average monthly figure using weekly rent × 52 ÷ 12, rather than multiplying by four. Each line below is rounded to the nearest dollar.

The rents are assumptions informed by published accommodation references. The other figures are editorial budget allocations, not a surveyed shopping basket. ILSC’s August 2026 guide lists shared accommodation at AUD 200–450 per week and a private apartment at AUD 475–500. Actual properties may cost more; check availability and what the contract includes.

Accommodation: compare the whole agreement

A room, a student residence and an entire apartment meet different needs. Compare the price per person, contract length and included services. A whole-apartment rent is not a room price.

• Shared housing: check occupancy, whether the room is private, how bills are split and who signs the agreement.
• Student residence: check furnishings, utilities, shared facilities, minimum stay and early-exit costs.
• Homestay: confirm meals, household expectations, supplements and the commute. Do not budget twice for included meals.
• Living alone: allow for connections, missing furniture and bills that you will pay yourself.

The University of Melbourne highlights who you live with as a factor in accommodation costs. Its living-cost guidance is a useful starting point; compare current listings for your dates. Check the year on university rates, as some already cover 2027.

Use the campus address and your actual class hours to compare travel times. A cheaper room can mean a longer journey. Inspect the property or arrange a reliable check before committing, and keep written terms and receipts.

Food, bills and personal spending

Groceries and eating out

The examples allocate AUD 450, 600 or 750 a month to food and some meals out. Your diet, cooking habits and social plans will change the amount. Build a weekly shopping list and compare unit prices. Separate groceries from coffee, delivery and restaurants so you can see where your money goes.

Utilities and connectivity

Ask which bills the rent includes. Compare total plan prices, mobile data, contract commitments and connection charges. Heating and appliance use can make costs seasonal. Agree how shared bills are divided and allow for laundry, toiletries and small purchases.

Leisure and health

Keep a realistic leisure allowance. Major events such as the Australian Open, Formula 1 or MotoGP need a separate ticket and travel budget. Obtain an OSHC quote for the required period and check exclusions and out-of-pocket medical expenses. Having insurance does not mean every service is covered.

Melbourne transport fares checked in October 2026

A temporary half-price arrangement applies until 1 January 2027. Transport Victoria lists full-fare daily caps of AUD 5.70 on weekdays and AUD 4 on weekends for covered services. These are daily caps, not monthly passes.

Reaching the weekday cap five days a week would cost AUD 28.50 a week, or about AUD 123.50 per average month. Adding both weekend days gives AUD 36.50 a week, about AUD 158.17 a month. The examples exclude airport transfers and other services outside the scheme.

International student status does not automatically qualify you for every concession. Check eligibility and do not project the temporary 2026 discount across 2027. If you need a car, separate purchase or hire, fuel, registration, insurance, parking and maintenance. A purchase price is not a per-trip fare.

Money you need before you arrive

RMIT suggests allowing AUD 3,000–5,000 for setting up, depending on your circumstances. This is an arrival-cost reference, not the total cost of studying. See RMIT’s explanation.

1. Get tuition, enrolment and materials costs with the payment schedule.
2. Check applicable visa charges and an OSHC quote.
3. Add flights, luggage, transfers and temporary accommodation.
4. Allow for the bond, rent in advance and missing household items.
5. Keep living-cost reserves that do not depend on immediate employment.

A rental bond requires cash upfront but is not another recurring monthly rent. Keep your agreement, condition report and receipts, and check Consumer Affairs Victoria for the relevant process. Visa financial-evidence requirements are separate from a personal living budget.

Work and income: use actual net earnings

From 1 July 2026, the national minimum wage is AUD 26.44 gross per hour for adults covered by that rate. An award, classification, age or employment arrangement can determine a different rate. Check Fair Work’s announcement.

The general Student visa work limit is 48 hours per fortnight while the course is in session, with exceptions. Check your own conditions and when you may start work through Study Australia and Home Affairs. Work permission does not guarantee a job or enough hours to fund your stay. Compare complete expenses with actual income after tax.

Ways to reduce costs

• Compare rent plus commuting, rather than rent alone.
• Consider whether furnished housing avoids purchases you will not recover.
• Track spending weekly during your first month.
• Explore Nómadas community events and check each event’s inclusions.
• Only count discounts you qualify for and keep a contingency reserve.
• Compare the same room type, dates and expenses when considering Sydney or Brisbane.

Use Study Melbourne’s calculator to customise your assumptions. Replace estimates as you obtain real quotes.

Frequently asked questions

How much does one month in Melbourne cost in 2026?

Our examples total AUD 2,138, 2,957 and 4,057 per person, depending on housing and spending. They exclude tuition, visa costs, OSHC and flights and are not official minimums.

Can I live on AUD 2,000 a month?

It may be tight: the lowest example here is AUD 2,138. You would need verified lower rent and spending for your dates, while retaining a reserve.

How do I convert weekly rent to a monthly budget?

Multiply by 52 and divide by 12. AUD 300 a week is AUD 1,300 per average month. Your agreement sets the actual payment schedule.

Do all students receive transport concessions?

No. Eligibility varies. Student concessions and the temporary general fare reduction are separate arrangements.

Is OSHC included in these monthly totals?

No. Obtain a separate quote and avoid counting it again if your study proposal already includes it.

Will a student job cover all my expenses?

That cannot be guaranteed. Rent, tax, applicable pay rates and hours actually worked all matter. Prepare funds before travelling.

Is Melbourne cheaper than Sydney?

Compare equivalent housing and routines for the same dates. This guide does not claim a fixed percentage difference.

What if I travel with a partner or children?

Build a separate household budget for suitable housing, food, insurance and any education or childcare costs. Check each person’s visa eligibility separately.

Sources and educational advice

Reviewed on 24 October 2026. Sources are linked beside the claims they support. The budget scenarios are editorial calculations to replace with your own quotes. Nómadas provides free educational advice to students; courses, insurance, government charges, housing and travel have their own costs.

Meet the team at our Melbourne office, read student experiences or ask a guide to help plan your study budget.